The rapid growth of real estate loans has been effectively controlled under the tone of "housing and not speculating" and the strict enforcement of financial supervision departments. It is worth noting that small and medium-sized banks in some areas take advantage of the exit of large banks to compete for market share of real estate loans. Insiders pointed out that the financial supervision department will strengthen the supervision of non-standard investment and off-balance-sheet business of small and medium-sized banks, and may also implement list management for banks with a relatively high proportion of new real estate loans.
Strictly control the financial risks of real estate.
Recently, real estate regulation and control policies have been continuously strengthened, and curbing capital loopholes, standardizing market order and implementing regulatory requirements have become the important contents of many real estate financial regulation and control policies.
The financial supervision department has repeatedly voiced its opposition to real estate finance. The the Political Bureau of the Communist Party of China (CPC) Central Committee meeting held on July 30th reiterated that we should stick to the position that houses are for living, not for speculation, stabilize land prices, house prices and expectations, and promote the stable and healthy development of the real estate market. 202 1 The central bank working conference in the second half of the year pointed out that the prudent management system of real estate finance should be implemented. The Mid-year Work Conference in China Banking and Insurance Regulatory Commission, China made more explicit requirements, proposing that the requirements of "three lines and four files" and the concentration of real estate loans will be strictly implemented to prevent bank insurance funds from illegally flowing into the real estate market.
The China Monetary Policy Implementation Report 20021Second Quarter recently issued by the central bank points out that it is necessary to maintain the continuity, consistency and stability of real estate financial policies and implement the prudent management system of real estate finance.
The multi-bank insurance regulatory bureau has recently made arrangements for real estate financial supervision. For example, Tianjin Banking Insurance Regulatory Bureau proposed to strictly control the financial risks in the real estate market and strictly implement the management requirements of real estate loan concentration. Anhui Banking Insurance Regulatory Bureau requires strict implementation of "three lines and four files" and real estate loan concentration requirements to prevent bank insurance funds from bypassing the rules and flowing into the real estate market. The Shanghai Banking Insurance Regulatory Bureau said that the next step will be to further curb the real estate financialization bubble, combine the actual situation in Shanghai, and make precise policies to promote the stable and healthy development of the real estate market.
Ren Tao, a distinguished researcher at the National Finance and Development Laboratory, believes that the frequent introduction of policies by the regulatory authorities to prevent funds from illegally flowing into the real estate market is mainly because the real estate industry has absorbed too many financial resources. Strengthening the financial supervision of real estate will help to promote commercial banks to pay more attention to weak areas such as small and micro, "agriculture, rural areas and farmers", green manufacturing and technological innovation, as well as key areas encouraged by the state. At the same time, pushing the economy away from reality will help promote the balanced development of finance, real estate and real economy, and avoid the financial and real estate industries from excessively deviating from the development track of real economy.
Punish illegal funds with heavy punches
With the continuous tightening of policies, the financial supervision department has made unprecedented efforts to investigate the illegal inflow of loan funds into the real estate market. Recently, key cities including Shanghai, Guangdong and Ningbo have intensively disclosed fines related to housing credit, and some cities have also carried out special inspections.
Judging from the reasons for punishment, the illegal facts of the punished institutions mainly include the illegal inflow of credit funds such as personal business loans and personal consumption loans into the property market, and the illegal investment and wealth management funds of peers into real estate projects with incomplete "four certificates".
For example, Guangdong Banking Insurance Regulatory Bureau recently issued 12 tickets in succession, and 12 branches and 10 responsible persons of ICBC, Industrial Bank, China Merchants Bank and Guangfa Bank were fined, with a total fine of109,000 yuan, all involving illegal business loans and consumer loans flowing into the real estate sector. The Shanghai Banking Insurance Regulatory Bureau disclosed that Shanghai Bank was fined 4.6 million yuan for "the compliance review of inter-bank investment of real estate enterprises seriously violated prudent business rules" and "some personal loans were illegally used to purchase houses". Yunnan Branch of Agricultural Bank of China was fined 4.2 million yuan for three illegal facts, such as illegally issuing loans to real estate development enterprises through non-real estate development loans and illegally issuing false mortgage loans.
On July 16, the China Banking Insurance Regulatory Commission also issued a huge fine of nearly 300 million yuan to five banks, including Minsheng Bank and Shanghai Pudong Development Bank, many of which involved "blood transfusion" in violation of real estate regulations.
In addition to issuing tickets, some key cities also organize in-depth investigations within a certain scope. Take Shenzhen as an example. On August 7th, the financial supervision department of Shenzhen released data showing that up to now, 210.55 billion yuan of loans for business purposes have been found to have illegally flowed into the real estate sector after several rounds of rolling investigation and regulatory verification.
Why do commercial loans and consumer loans illegally flow into the real estate market? Yif Wang, chief analyst of the financial industry of Everbright Securities, pointed out that on the one hand, due to the strong willingness of banks to lend, domestic real estate loans have the characteristics of "high quota, long cycle, high interest rate, low non-performing loans and excellent collateral", and the cost of risk control management is low, which is a high-quality asset favored by banks. On the other hand, it is difficult to monitor the use of post-loan funds, especially the flow of operating loans, the scale of which is significantly higher than that of consumer loans, which is more attractive to real estate speculators.
Small and medium-sized banks have become key regulatory targets.
The rapid growth of real estate loans has been effectively controlled under the tone of "housing and not speculating" and the strict enforcement of financial supervision departments. According to the data of the Bank of China Insurance Regulatory Commission, as of the end of June, real estate loans increased by 9.8% year-on-year, and the growth rate reached an eight-year low; The concentration of real estate loans dropped from the high point of 29.2% in 20 19 to 28.2% at the end of June. Although the trend is improving, there is also a new trend in the market, that is, some local small and medium-sized banks take advantage of the withdrawal of large banks to compete for market share of real estate loans.
In this regard, Yif Wang said that due to the low level of risk management, weak anti-risk ability and few means of risk disposal, small and medium-sized banks may be more affected by the "grey rhinoceros" risk in the real estate sector, so they need to be properly controlled.
The regulatory authorities have repeatedly made it clear that the supervision of small and medium-sized banks will be strengthened in the next stage. Liu Zhongrui, deputy director of the Communication Department of the Bank of China Insurance Regulatory Commission, said earlier that the Bank of China Insurance Regulatory Commission attaches great importance to this issue and will implement list management for banks with a relatively high proportion of new real estate loans, and urge these banks to implement real estate financial supervision requirements and reasonably control the growth rate of real estate loans. The central bank's operation and management department's working meeting in the second half of the year also made it clear that centralized management of real estate loans of local corporate banks will be strengthened.
Ren Tao predicted that in the next stage, on the one hand, the financial supervision department will strengthen the supervision of non-standard investments and off-balance-sheet businesses of small and medium-sized banks, implement penetrating and list-based management with reference to ordinary credit, and require non-standard investments and off-balance-sheet credit to return to the traditional unified management of on-balance-sheet credit. On the other hand, banks with a relatively high proportion of new real estate loans can also be managed by the list system to urge them to implement the requirements of real estate financial regulation.